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Strategies & Market Trends : Tech Stock Options -- Ignore unavailable to you. Want to Upgrade?

To: Ramsey Su who wrote (57884)	11/21/1998 12:38:00 PM
From: donald sew	Read Replies (1) \| Respond to of 58727

Ramey, Concerning TXN, I would be careful shorting it immediately with options. With stock it could be OK since time is not of an issue. TXN is in breakout mode and only on FRI did it show the first sign of topping out, but is inconclusive. I checked with the PITCHFORK and it broke the upper trendline, which is bullish. I see that TXN gapped from about 33, so lets call 33 a support line. I would wait to see TXN first form a double top before shorting it. Of course if the market tanks so will TXN, but by itself it is strong. Take a look at TER, AMAT which have already formed mini-double tops, or MU and MUEI which have set slightly lower highs. Im am playing CCL which is in the process of forming a double top in the 34.50-35.00 range. I am also thinking about AMD if it retests the highs. Also look at PPD if it gets back over 30. I do not short weak stocks, but stocks which have a good predictability per my technicals. Seeya